ACTIVE

Normec BTV

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Financial year 2025 · closed on 31/12/2025

Net result

1,5 M €

-1.9% YoY

Revenue

48,3 M €

-5.3% YoY

Equity

6 M €

+34.5% YoY

Workforce

313,1 ETP

-10.7% YoY

What does Normec BTV do?

Normec BTV is a Non-profit organization incorporated in 1964. Its registered office is in Antwerpen. It employs on average 313,1 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0406.486.616

Incorporation

19/06/1964

Legal form

Non-profit organization

Registered office

Roderveldlaan 2
2600 Antwerpen · FlandreSee on map

Latest accounts

31/12/2025

Average workforce

313,1 ETP

Joint committees (4)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Revenue	48,3 M €	-5.3%	51 M €	+6.4%	48 M €	+22.2%	39,3 M €	+13.3%	34,6 M €	+0.7%	34,4 M €	-3.7%	35,7 M €	+12.4%	31,8 M €	+6.6%	29,8 M €	+4.1%	28,6 M €	+6.4%	26,9 M €	+6.1%	25,4 M €	-1.5%	25,8 M €	-0.1%	25,8 M €	+6.1%	24,3 M €	+7.6%	22,6 M €	+5.5%	21,4 M €	+26.1%	17 M €	+16.6%	14,6 M €
EBITDA	3,4 M €	-3.8%	3,5 M €	+14.8%	3 M €	+949%	-358,1 k €	-9.3%	-327,7 k €	-120%	1,6 M €	-26.7%	2,2 M €	+96.6%	1,1 M €	+19.1%	933,8 k €	+15.8%	806,6 k €	+11.6%	723 k €	-9.7%	800,9 k €	+211%	257,8 k €	-51.5%	531,1 k €	-52.6%	1,1 M €	+58.9%	705,3 k €	-51.7%	1,5 M €	+2.7%	1,4 M €	+139%	595,3 k €
Operating result	2,7 M €	-4.6%	2,8 M €	+19.5%	2,3 M €	+301%	-1,2 M €	+2.2%	-1,2 M €	-261%	736,5 k €	-35.5%	1,1 M €	+539%	178,5 k €	+53.2%	116,5 k €	+19.1%	97,9 k €	-25.4%	131,2 k €	-41.6%	224,5 k €	+170%	-319,6 k €	-363%	121,6 k €	-83.9%	754,9 k €	+93.6%	390 k €	-64.6%	1,1 M €	-5.7%	1,2 M €	+208%	378,3 k €
Net result	1,5 M €	-1.9%	1,6 M €	+0.6%	1,6 M €	+218%	-1,3 M €	-0.5%	-1,3 M €	-875%	-136,1 k €	-1431%	10,2 k €	+183%	3,6 k €	+141%	1,5 k €	-80.5%	7,7 k €	-44.1%	13,8 k €	-86.9%	105,5 k €	+126%	-410,3 k €	-775%	60,8 k €	-91.0%	675,7 k €	+102%	334,4 k €	-69.4%	1,1 M €	-5.6%	1,2 M €	+213%	369,6 k €
Balance sheet
Equity	6 M €	+34.5%	4,5 M €	+54.2%	2,9 M €	+117%	1,3 M €	-49.8%	2,7 M €	-33.1%	4 M €	-3.3%	4,1 M €	+0.2%	4,1 M €	+0.1%	4,1 M €	+0.0%	4,1 M €	+0.2%	4,1 M €	+0.3%	4,1 M €	+2.6%	4 M €	-9.3%	4,4 M €	+1.4%	4,3 M €	+18.4%	3,7 M €	+10.0%	3,3 M €	+48.6%	2,2 M €	+106%	1,1 M €
Total assets	15 M €	+23.7%	12,1 M €	-10.1%	13,5 M €	-12.1%	15,4 M €	+34.3%	11,5 M €	-17.3%	13,8 M €	+3.1%	13,4 M €	-4.0%	14 M €	+9.8%	12,7 M €	+0.8%	12,6 M €	+6.3%	11,9 M €	-2.7%	12,2 M €	-0.8%	12,3 M €	-12.3%	14 M €	+49.0%	9,4 M €	+15.6%	8,1 M €	+11.6%	7,3 M €	+41.3%	5,2 M €	+30.2%	4 M €
Cash	408,8 k €	+26.9%	322,1 k €	-65.5%	932,3 k €	-28.3%	1,3 M €	+57.2%	827,1 k €	-4.6%	867,4 k €	+101%	431,7 k €	+9.9%	392,8 k €	-6.4%	419,9 k €	+3.2%	407,1 k €	-39.1%	668,4 k €	-41.2%	1,1 M €	+22.9%	924,7 k €	-32.6%	1,4 M €	+2.5%	1,3 M €	-16.5%	1,6 M €	+15.3%	1,4 M €	+123%	624,4 k €	+6.4%	587 k €
Debts	9 M €	+17.2%	7,6 M €	-27.8%	10,6 M €	-22.9%	13,7 M €	+82.6%	7,5 M €	-21.5%	9,6 M €	+6.1%	9 M €	+4.3%	8,7 M €	+15.5%	7,5 M €	-2.5%	7,7 M €	+6.4%	7,2 M €	-6.8%	7,7 M €	-6.1%	8,3 M €	-14.0%	9,6 M €	+101%	4,8 M €	+14.3%	4,2 M €	+18.0%	3,5 M €	+21.1%	2,9 M €	+1.5%	2,9 M €
Other
Workforce	313,1 ETP	-10.7%	350,6 ETP	+3.4%	339,1 ETP	-0.2%	339,9 ETP	+3.0%	329,9 ETP	-0.4%	331,2 ETP	-0.3%	332,1 ETP	+7.6%	308,6 ETP	+1.9%	302,7 ETP	+1.4%	298,6 ETP	+8.8%	274,4 ETP	+3.6%	264,9 ETP	-2.5%	271,7 ETP	-1.0%	274,4 ETP	+10.2%	248,9 ETP	+8.8%	228,8 ETP	+8.7%	210,4 ETP	+13.8%	184,9 ETP	+7.6%	171,9 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 46 ended

Active mandates

Normec Belgium

Director · since 02 août 2022 · 0742.603.294

Represented by van Engelen Myrna

Active

OPTYLYM

Director · since 15 février 2022 · 0898.267.510

Represented by Defreyne BERT

Active

Normec 1 BV

Director · since 28 mai 2021

Represented by Joep Bruins

Active

VLAM - N - VEST

Director · since 28 mai 2021 · 0466.356.501

Represented by Schuurs BRITT DENIS

Active

Ended mandates

Normec Belgium

Bestuurder · since 02 août 2022 · 0742.603.294

Represented by Myrna van Engelen

Ended

Myrna van Engelen

Bestuurder · since 10 mai 2022 · until 02 août 2022

Ended

Myrna van Engelen

Bestuurder · since 10 mai 2022

Ended

OPTYLYM

Director · since 15 février 2022 · 0898.267.510

Represented by Bert Defreyne

Ended

At this address

Other companies at this address

Company	CBE no.
Administratiekantoor Exalate● Active	0682.704.806
CBS Energy Assets Belgium● Active	0794.404.660
Centrica Business Solutions Belgium● Active	0826.113.861
Maersk Belgium● Active	0421.619.408
Normec BTV Academy● Active	0427.455.145
Normec BTV Audit● Active	0465.154.689
Normec Planning● Active	0417.899.259
OPTYLYM● Active	0898.267.510
Safmarine MPV● Active	0415.029.148

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	01/07/2026	16/07/2025	26/07/2024	18/07/2023	31/08/2022	15/07/2021
General meeting	30/06/2026	30/06/2025	28/06/2024	30/06/2023	30/06/2022	30/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	30/06/2026	01/07/2026	Dutch	PDF
Full model	31/12/2024	30/06/2025	16/07/2025	Dutch	PDF
Full model	31/12/2023	28/06/2024	26/07/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	18/07/2023	Dutch	PDF
Full model	31/12/2021	30/06/2022	31/08/2022	Dutch	PDF
Full model	31/12/2020	30/06/2021	15/07/2021	Dutch	PDF
Full model	31/12/2019	30/06/2020	30/07/2020	Dutch	PDF
Full model	31/12/2018	28/06/2019	25/07/2019	Dutch	PDF
Full model	31/12/2017	29/06/2018	30/07/2018	Dutch	PDF
Full model	31/12/2016	30/06/2017	20/07/2017	Dutch	PDF
Full model	31/12/2015	30/06/2016	27/07/2016	Dutch	PDF
Full model	31/12/2014	25/06/2015	16/07/2015	Dutch	PDF
Full model	31/12/2013	30/06/2014	30/07/2014	Dutch	PDF
Full model	31/12/2012	28/06/2013	08/07/2013	Dutch	PDF
Full model	31/12/2011	30/06/2012	31/07/2012	Dutch	PDF
Full model	31/12/2010	30/06/2011	04/07/2011	Dutch	PDF
Full model	31/12/2009	03/06/2010	27/07/2010	Dutch	PDF
Full model	31/12/2008	30/06/2009	27/08/2009	Dutch	PDF
Full modelCorrection	31/12/2007	30/06/2008	15/10/2008	Dutch	PDF
Full model	31/12/2007	30/06/2008	14/08/2008	Dutch	PDF
Full model	31/12/2006	20/06/2007	31/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 46 ended

Active mandates

Normec Belgium

Director · since 02 août 2022 · 0742.603.294

Represented by van Engelen Myrna

Active

OPTYLYM

Director · since 15 février 2022 · 0898.267.510

Represented by Defreyne BERT

Active

Normec 1 BV

Director · since 28 mai 2021

Represented by Joep Bruins

Active

VLAM - N - VEST

Director · since 28 mai 2021 · 0466.356.501

Represented by Schuurs BRITT DENIS

Active

Ended mandates

Normec Belgium

Bestuurder · since 02 août 2022 · 0742.603.294

Represented by Myrna van Engelen

Ended

Myrna van Engelen

Bestuurder · since 10 mai 2022 · until 02 août 2022

Ended

Myrna van Engelen

Bestuurder · since 10 mai 2022

Ended

OPTYLYM

Director · since 15 février 2022 · 0898.267.510

Represented by Bert Defreyne

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates03/09/2026
Ontslag - Benoeming Bestuurder(s) - Volmacht
PDF
Mandates04/05/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/12/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/06/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates18/04/2023
BENAMING - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Other05/04/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates10/01/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/11/2022
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 20251,5 M €↓
2024
Annual accounts 20241,6 M €↑
2023
Annual accounts 20231,6 M €↑
2022
Annual accounts 2022-1,3 M €↓
2022
Name changeNormec BTV
2021
Annual accounts 2021-1,3 M €↓
2021
Name changeTechnisch Bureau Verbrugghen
2020
Annual accounts 2020-136,1 k €↓
2019
Annual accounts 201910,2 k €↑
2018
Annual accounts 20183,6 k €↑
2017
Annual accounts 20171,5 k €↓
2016
Annual accounts 20167,7 k €↓
2015
Annual accounts 201513,8 k €↓
2014
Annual accounts 2014105,5 k €↑
2013
Annual accounts 2013-410,3 k €↓
2012
Annual accounts 201260,8 k €↓
2011
Annual accounts 2011675,7 k €↑
2010
Annual accounts 2010334,4 k €↓
2009
Annual accounts 20091,1 M €↓
2008
Annual accounts 20081,2 M €↑
2007
Annual accounts 2007369,6 k €
2007
Name changeBureau Technique Verbrugghen - Technisch Bureau Verbrugghen
19/06/1964
IncorporationNon-profit organization

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

Normec BTV

Overview

What does Normec BTV do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline